Credit: ElenaR/Shutterstock/com The Quincecare Lacuna Addressed?
The Tecnimont Arabia Limited v Natwest case is examining the duties banks hold, write partners from Signature Litigation.
February 22, 2022 at 06:31 AM
6 minute read
Following hot on the heels of NatWest's record £267 million fine for AML breaches in pretty egregious circumstances involving cash deposits carried in bin-liners, the bank finds itself again in the spotlight over its AML and KYC procedures in a case that considers what obligations it is reasonable to impose on a bank in circumstances where their procedures and systems alerted them (or should have) to a potential fraud by one of its customers.
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